PNB plans to raise up to 2,000 crore via additional tier I AT 1 bonds on Tuesday. This is likely to be followed by the State Bank of India s AT 1 bonds worth Rs 4,000 crore next week. Bond dealers said the base size of the offering is for Rs 500 crore with a green shoe option of Rs 1,500 crore. The bad loan situation has become better, the recovery has improved and the prospects of further stress look less, so there is increasing interest in the instruments of the public sector. Canara Bank raised 1,500 crore via AT I bonds last week. The bank received a total bid of Rs 4,699 crore. The issuance of 1,500 crore was accepted at a coupon rate of 8.05 per cent.
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